We’re exploring the story of Michael Jerome Lickiss and the serious complaints associated with his name. These issues are significant; they include grave accusations such as fraudulent bond sales and neglecting his duties, with a recent case alleging $567,000 in damages from January 6, 2025.
Throughout his time at firms like Purshe Kaplan Sterling Investments, Arkadios Capital, and Investment Architects, Inc., he has been at the center of investment fraud that caused investors to lose millions.
A substantial settlement required Lickiss to pay $700,000 of a $1.5 million agreement to resolve these fraud accusations.
With ongoing disputes alleging over $6 million due to counterfeit bonds and deceptive practices Haselkorn & Thibaut are responding by offering complimentary case evaluations.
These complaints present a pattern of unsuitable recommendations and failure to manage client accounts adequately, resulting in considerable losses for many individuals.
Michael failed to adhere to FINRA’s regulations, which ensure fair trading and proper oversight, leading to inquiries into his conduct. For those affected by this situation, options are available, such as filing a complaint through FINRA or seeking legal assistance, which may involve detailed record-keeping of your investments.
This prompts us to consider our next steps. Continue for additional information.
Key Takeaways
Table of Contents
- Michael Jerome Lickiss allegedly engaged in selling fake bonds and failed to supervise his team properly, violating Financial Industry Regulatory Authority (FINRA) Rules 2020 and 3110.
- Investors reported losses of millions due to Lickiss’s actions, leading to settlements and ongoing legal challenges, with disputes seeking over $6 million across various cases.
- Authorities are investigating these fraudulent activities tied to companies including Purshe Kaplan Sterling Investments and Arkadios Capital where Lickiss was employed.
- A lawsuit filed on January 6, 2025, alleges damages of $567,000 from a scheme involving fictitious bonds; other significant claims involve millions in investor losses.
- To recover losses, investors should gather documents and seek experienced legal representation for assistance through arbitration or lawsuits against those involved in securities fraud.
Allegations Against Michael Jerome Lickiss
Michael Jerome Lickiss faces serious charges. He’s accused of selling fake bonds and not watching over his team, breaking many rules.
Fraudulent bond sales
We have seen allegations about fraudulent bond sales that caused big losses for investors. A recent lawsuit filed on January 6, 2025, claims damages of $567,000 because of a scheme thought to be dishonest.
This isn’t the only case out there. Another significant dispute is asking for $3.3 million due to fake bonds.
In another scenario, Case #24-02244 points to losses of $2.3 million linked again to fictitious bonds. These cases highlight deceptive practices in selling bonds that should never happen in the finance world.
They show us how some entities play fast and loose with rules meant to protect us as investors, leading to substantial financial harm.
Failure to supervise and regulatory violations
Fraudulent bond sales often link to a greater issue: failure to supervise and regulatory violations. Michael Jerome Lickiss has breached important rules set by the Financial Industry Regulatory Authority (FINRA).
He failed to comply with FINRA Rules 2020, which prohibit deceptive trading practices. He also neglected proper supervision as required by Rule 3110.
Lickiss worked at several firms, including Purshe Kaplan Sterling Investments from July 2024 until January 2025 and Arkadios Capital between December 2021 and July 2024. At these companies, he should have ensured that all activities met legal standards.
Ongoing regulatory investigations into his conduct highlight serious concerns about broker misconduct in Danville, California, particularly linked to fictitious bonds sold under Pacific Wealth Advisory Services with CRD number 5135936.
Such failures can significantly harm investors like us.
Customer Complaints and Settlements
Many investors reported losing millions due to Michael Jerome Lickiss’s actions. These losses sparked numerous disputes, leading to settlements and ongoing legal battles with various financial firms.
Multi-million dollar investor losses
Investors have faced significant losses linked to Michael Jerome Lickiss. Allegations include fraudulent bond sales and deceptive practices. A staggering dispute seeks $3.3 million in damages due to fictitious bonds.
We see claims for $2.3 million associated with case #24-02244 alone.
Affected investors are pursuing over $6 million across various pending disputes. This financial harm impacts many families and individuals pursuing justice after falling victim to these actions.
Addressing broker misconduct has led to serious investment losses that we must tackle together.
Pending and resolved disputes
We see significant financial damages linked to Michael Jerome Lickiss through multiple disputes. A recent case filed on January 6, 2025, claims $567,000 in damages due to an alleged fraudulent scheme involving fictitious bonds.
In April 2024, Lickiss reached a settlement agreement totaling $1.5 million, personally paying $700,000 out of that amount.
Affected investors seek over $6 million across both pending and resolved customer complaints against their investment advisers. The highest reported settlement was an impressive $1.5 million while another dispute exceeds $3.3 million.
These figures highlight the serious implications for those involved in these high-risk brokerage firms like Purshe Kaplan Sterling Investments and Arkadios Capital. Next, we will discuss investor options and legal recourse available to those affected by these issues.
Investor Options and Legal Recourse
Investors can take steps to recover their losses by exploring legal options. Hiring an experienced attorney is essential for addressing disputes and ensuring a strong case against wrongdoing.
Steps to recover investment losses
To recover investment losses, we should gather our documents. Collect account statements, trade confirmations, and any communication with brokers or financial advisors. We need to request a complete account history and trading records from our brokerage firm.
Looking over these materials helps us understand where things went wrong.
Filing complaints with FINRA or seeking legal help is crucial. A qualified attorney can guide us through the process of arbitration if necessary. They will explain fees and commissions in detail to help us see what we might have lost due to fraudulent activities like those associated with Michael Jerome Lickiss or others involved in securities fraud.
This path may lead to recovering some of our hard-earned money while holding brokers accountable for their fiduciary duties.
Importance of legal representation
Legal representation plays a vital role in investment fraud cases. We face many risks when we invest our money. Fraudulent bond sales or unsuitable investment recommendations can lead to massive losses.
Having experienced legal support helps us navigate these complex situations. Firms like Haselkorn & Thibaut focus on investment fraud and have a 98% success rate in recovering funds for investors.
Our lawyers investigate cases against Michael Jerome Lickiss and claim to have recovered over $400 million for investors. They understand securities law and SEC regulations well, which is crucial in seeking compensation for our losses.
A strong legal team gives us the best chance at recovery and justice after facing financial harm from broker misconduct or high-risk brokerage firms.
Conclusion
We have uncovered serious allegations against Michael Jerome Lickiss related to financial fraud. Many investors report losing millions due to his questionable bond sales and lack of oversight.
We invite anyone impacted by this situation to seek legal help promptly. Filing a complaint with Haselkorn & Thibaut can initiate recovery efforts for those experiencing losses. Staying informed about your investments is crucial; it empowers us to take control of our financial futures.
